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News » Recruitment firms could lower Portugal’s poverty, says Randstad

Recruitment firms could lower Portugal’s poverty, says Randstad

Recruitment firms could lower Portugal's poverty
Photo from REUTERS/Arnd Wiegmann

LISBON, PORTUGAL — Human resource consulting firm Randstad believes that expanding recruitment firms in Portugal could significantly alleviate poverty levels and potentially boost wages.

In its recent study, Randstad stated that recruitment agencies could expedite the process of meeting companies’ talent needs with the appropriate professionals, thus potentially increasing employment levels, reducing inequality, and driving economic progression.

The impact of recruitment firms differs across European Union (EU) countries due to varying penetration rates — the share of full-time temporary workers in the total working-age population. In Portugal, the current penetration rate stands at 1.1%.

Randstad identified a correlation suggesting a one-point increase in recruitment firm penetration could correspond with a 2.96-point decrease in poverty rates. 

This indicates that if Portugal’s rate reached 2%, nearly 306,000 individuals could escape poverty or social exclusion.

Regarding gender equality, recruitment firms could play a vital role by accelerating women’s access to employment opportunities and aiding in career advancement. The study suggests that a one-point rise in the sector’s participation could increase female representation in senior management by up to 4.5% over the medium term.

Additionally, Randstad emphasized that increased participation of recruitment companies could curtail income inequality, as measured by the Gini coefficient. The study concluded that for each additional percentage point of sector presence, the Gini coefficient could lower by 2.7 points.

Read more here.

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